Horbury in £2.5m loan for growth

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A Rotherham construction contractor has secured a £2.5m loan from a company set up by high street banks to counter claims they weren’t lending – the first one in South Yorkshire since it was established in 2010.

Horbury Group, which employs 800, provides internal fit-out services to companies including Carillion, Balfour Beatty and Kier.

The loan from the Business Growth Fund will help it tender for larger, and more, projects and create jobs.

Trevor Wragg, founder of Horbury, said: “This is great news for the company and everyone associated with it. This funding means we can act on growth opportunities we have identified as part of a recent strategic review of our business and market.

“Our core trades are seeing demand as the construction industry is returning to growth.”

Earlier this month the company announced it had secured a £6m finance package and moves it full banking to HSBC.

The fund was was formed following Government talks and is backed by Barclays, HSBC, Lloyds, RBS, and Standard Chartered. It operates independently.